SBI Hikes FD Rates upto 75 Bps new rates are applicable on 15 may 2024 know details

SBI FD Rates Hike: The country's top public sector bank State Bank of India has changed the interest rates of its fixed deposit scheme. The bank has increased the interest rates on both FD schemes of less than Rs 2 crore and more than Rs 2 crore. According to the information given on the official website of the bank, the new rates have come into effect from Wednesday, May 15, 2024. SBI has increased the interest rate on FD schemes of less than Rs 2 crore by up to 75 basis points.

This much interest is being given on FD of less than Rs 2 crore in SBI

The bank has made a major change in the interest rates on FD schemes for deposits less than Rs 2 crore. There has been an increase of 75 basis points on FD schemes ranging from 46 days to 179 days. In such a situation, now general customers are getting 5.50 percent interest rate instead of 4.75 percent. At the same time, senior citizens are getting the benefit of 6 percent interest rate instead of 5.25 percent on FD of this period. At the same time, the bank has also increased the interest rates on FDs of 180 to 210 days by 25 basis points. In such a situation, general customers will now get the benefit of 6 percent interest rate instead of 5.75 percent. At the same time, on FD schemes ranging from 211 days to 1 year, the bank is offering 6.25 percent interest rate to general customers instead of 6.00 percent and 6.75 percent to senior citizens.

SBI changed the interest rates of bulk FD

Apart from retail, State Bank has also changed the interest rates of bulk FD. The bank has increased the interest rate on FD scheme of 7 to 45 days by 25 basis points. Now the bank is offering 5.25 percent interest rate to general customers instead of 5.00 percent. At the same time, it is offering 5.75 percent interest rate to senior citizens instead of 5.50 percent. At the same time, the bank has increased the interest rates on FDs of 46 to 179 days by 50 basis points. Now during this period, the bank is offering 6.25 percent interest rate to general customers instead of 5.75 percent and 6.75 percent interest rate to senior citizens instead of 6.25 percent.

At the same time, the bank has increased the interest rates of bulk FD of 180 to 210 days by 10 basis points. Now it is offering 6.60 percent interest rate to general customers instead of 6.50 percent and 7.10 percent interest rate to senior citizens instead of 7.00 percent. The bank has decided to increase the interest rate on bulk FD scheme of 1 to 2 years by 20 basis points. Now it is offering 7 percent interest rate to customers and 7.50 percent interest rate to senior citizens during this period. At the same time, there has been an increase of 50 basis points on FD of 2 to 3 years, after which now 7 percent interest rate is being offered to general customers and 7.50 percent interest rate to senior citizens.

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